View briefing note: http://tinyurl.com/yc4o5zck
In this video, Russ Roberts, CATA's Sr. VP, Tax, Finance and Advocacy talks about what has happened to SR&ED tax credits in the last decade and some of the causes of this dramatic reduction of innovation support in Canada.
Between 2009 and 2015 the aggregate tax credits delivered by the CRA (Canada Revenue Agency) has gone down by 5.3 billion dollars, and the Department of Finance now confirm a 15 percent downward revision in SR&ED forecast expenditure.
CATAAlliance has argued that tax credits can be significantly better designed to support innovation, not just SR&ED, as part of the community’s competitive innovation nation advocacy platform. Unfortunately, currently, the review process is - at best - opaque which is unacceptable.